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Anson Resources Limited (Anson or the Company) is pleased to announce continued high pressure along with higher flow rates than initially tested at the Long Canyon Unit 2 well within the priority Mississippian Units, at the Company’s Paradox Lithium Project (“the Project”) in Utah, USA.
Highlights:
- Test work during current exploration program at Long Canyon Unit 2 confirms continued high-pressure and flow rates
- Similar high-pressure results in a radius up to 12km from Long Canyon Unit 2 indicate flow rates will likely be maintained throughout production period
- Paradox Project extraction location at the Intersection of Robert’s Rupture and Cane Creek Anticline provides three key unique features;
- High pressure
- Vertical porosity; and
- Shallow depth
- This is expected to result in artesian flow of brine to surface without the need for pumping – delivering lower production costs and positive ESG attributes
Anson is currently drilling the Long Canyon Unit 2 well and is targeting the large Mississippian supersaturated brine aquifer which hosts a substantial lithium-rich zone of ~100m-250m thickness. Drilling aims to convert the existing Exploration Target into an Indicated and Inferred Resource (see ASX Announcement 17 January 2022).
This phase of the Company’s resource expansion drilling program has made excellent progress, with drilling reaching the target depth of 2,334 metres (7,670 feet) at the top of the Mississippian units and achieving first brine flow, with samples being collected for assaying (ASX announcements, 23 and 26 May 2022).
Commentary - High-Pressure and Flow Rates at Shallow Depth
Anson is pleased to advise that further test work on the Long Canyon Unit 2 well has confirmed continued high pressure and high flow rates. This is a highly positive outcome and is of significant importance.
One of the key considerations in Anson’s resource expansion drilling program is to monitor and test the well pressure over distance and time. Strong and consistent pressure would have a positive impact on brine extraction economics.
The Company’s test work has confirmed that over-pressure extends for more than 12 km from the Long Canyon Unit 2 well, and will likely take many years to exhaust.
Anson is in a unique, and ideal, location for brine extraction at the intersection of Robert’s Rupture and the Cane Creek Anticline (raised area, at the Paradox Project. Robert’s Rupture provides vertical porosity, and the Cane Creek Anticline provides a shallower depth to the target extraction horizon.
These three factors; high pressure, vertical porosity and shallow depth are key attributes of the Paradox Project area and are not present anywhere else in the area. In combination, they provide strong indicators of low extraction costs and beneficial ESG outcomes.
The wells Anson has re-entered have delivered artesian flow from the Clastic Zone 31 horizon (see previous ASX announcements) due to the constant higher pressures (see Table 1) and the porosities of this clastic zone.
Strategic Location of Production Pads to Deliver Optimal Outcomes
The pressures recorded across the project area in the Clastic Zone 31 horizon are shown to be uniformly high (see Figure 1), which should result in continuous artesian flow once the extraction process begins. To date, artesian flow has been recorded from Clastic Zone 31 over a distance 12km east-west and 8km north-south.
This uniform pressure across the project area indicates that pressure will be maintained throughout the life of the project, and support continuous extraction without the need to pump.
Anson has strategically located the production pads where the two major geological structures in the area - Roberts Rupture and the Cane Creek Anticline – intersect (see Figure 1).
Data from historical downhole geophysical logs carried out on the Utah State 16-1 well shows that this area has very high porosity, which along with the high pressures will result in artesian flow of the extracted brine. This unique situation is expected to reduce the extraction costs of the lithium-rich brines as fossil fuels will not be needed to power the pumps, providing ESG positive attributes to the project.
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This article includes content from Anson Resources Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ASN:AU
Anson Resources: Developing a Near-Term Clean Energy Project in Utah
Anson Resources (ASX:ASN) focuses on the resources necessary to meet the energy demands of the future. The company’s flagship project, the Paradox Lithium Project, has the potential to become a world-class lithium producer and is located near Tesla’s massively productive gigafactory in the United States. Additional projects target nickel, copper, and uranium.
The company's flagship Paradox Project is located in Utah, a mining-friendly and politically stable jurisdiction. The asset holds significant lithium brine deposits, and the company has identified an extraction method that has delivered an extraction rate of 91.5 percent. This technique calls for passing the lithium through the resin, which captures the resin, and can then be separated from the resin with water. From that state, it can be processed into lithium carbonate. The company is currently undertaking a major JORC resource expansion drilling program, the results of which will feed into a Detailed Feasibility Study being carried out by global engineering firm, Worley.
Company Highlights
- Anson Resources is focused on developing its flagship project, the Paradox Lithium Project, into a significant lithium producing operation.
- The company is currently undertaking a major JORC Resource expansion program at Paradox, which will form part of a Detailed Feasibility Study which is being undertaken by leading global engineering consultants, Worley.
- The Paradox Project contains multiple lithium brine targets, and the company has identified an extraction method that produces an impressive return rate of 91.5 percent. Also, the project’s Direct Lithium Extraction (DLE) method is expected to deliver significant ESG benefits
- In addition, the project’s brine also contains bromine, creating a valuable second potential revenue stream for the asset.
- Anson Resources’ other projects target nickel, copper, vanadium and uranium. The company aims to supply energy markets with the mineral resources necessary to power the future.
- The company has an experienced management team with a mix of technical, corporate and commercial skills driving the project towards its ambitious goals.
This Anson Resources company profile is part of a paid investor education campaign.*
EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
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This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.